Authored by EconomicPrism’s MN Gordon, annotated by Acting-Man’s Pater Tenebrarum, Seeing the Light It has been said that “the definition of insanity is doing the same thing over and over again and expecting different results.” No one quite knows who first uttered this remark; it has been attributed to Albert Einstein, Mark Twain, Benjamin Franklin, and has even been said to be an Ancient Chinese Proverb. What […]
30 April 2017 COLOMBES, France–(BUSINESS WIRE/ME NewsWire)– UAE Exchange, the leading global remittance, foreign exchange and payment solutions brand, and OT (Oberthur Technologies) have partnered to launch “gocash” prepaid card of UAE Exchange through the first-ever contactless payment via wearable devices (powered by “Flybuy MiniFOB” technology of OT), at the Seamless Middle East Conference in Dubai on 01 May 2017. UAE Exchange will be offering the wearable […]
Your newest prom bandImage: Larry Marano/REX/Shutterstock By Marcus Gilmer2017-04-30 19:32:20 UTC The kids at Huntley High School got a pretty rousing surprise when internet darlings The Chainsmokers crashed their prom, causing the kind of mass teen hysteria not seen since Marty McFly lit up the guitar at the Hill Valley High “Enchanted Under the Sea” dance in 1955. According to the Daily Herald, the surprise appearance was […]
30 April 2017 UAE – According to the annual YouGov survey conducted by IP Global, the leading full-service property investment company; North America, UK, Germany and Australia remain the top property investment destination for UAE residents. The survey results show that when it comes to investing in property abroad, North America is the most popular market among UAE citizens. The UK with 13% and Australia with 11%, […]
Russia. Flags.Image: Yuri Kochetkov/Epa/REX/Shutterstock By Colin Daileda2017-04-30 02:42:34 UTC Trolling is mostly dumb, but sometimes it’s an art. President Donald Trump held a rally in Pennsylvania on Saturday and, as he was speaking, someone tossed a bunch of tiny Russian flags, confetti-style, in front of the cameras streaming his speech to news networks. As far as protests go, it certainly earns points for creativity. The Trump campaign […]
SEOUL South Korea’s finance minister said on Sunday the government was already working on downsizing its trade surplus with the United States, a reference to U.S. President Donald Trump’s comments Thursday that Washington will renegotiate or scrap the free trade pact the two countries have. Finance Minister Yoo Il-ho added in televised comments he did not expect the free trade agreement will be terminated. It has been […]
Al Qudra Holding, an Abu Dhabi-based real estate and investment company, agreed to buy Al Rayan Investment Co for more than 1 billion dirhams ($272 million) in stock. Shareholders also approved listing Al Qudra shares in Abu Dhabi. The acquisition will involve issuing 210.4 million new shares and boost Al Qudra’s assets to about 4 billion dirhams, the company said Saturday in an emailed statement. Al Rayan […]
Marine Le Pen has agreed to team up with an anti-EU candidate who came sixth in the first round of France’s presidential election as she seeks to win votes from the centre-right in the run-off next weekend. On Saturday Ms Le Pen announced that she would name Nicolas Dupont-Aignan, an anti-EU Gaullist and founder of the nationalist party Debout la France (Arise France), as prime minister in […]
Airline stocks were grounded on Thursday after American Airlines unexpectedly offered to raise wages for its crew members, exacerbating investor concerns over industry costs. American Airlines fell the most in 10 months, dropping 8.6 per cent to a two-week low of $42.41, after the company proposed giving its pilots and flight attendants an average pay bump of 8 per cent and 5 per cent, respectively. The pay […]
A theory building momentum among Game of Thrones fans is that Jaime Lannister (Nikolaj Coster-Waldau) may in fact kill his twin sister and lover, Cersei (Lena Headey). Coster-Waldau weighed in on the theory earlier this week while doing press for his upcoming Netflix film Small Crimes, and while he can’t confirm or deny it, he does seem to have thought it out quite a bit. “I mean […]
The third Dubai Week in China, an event to promote and catalyse economic development and cultural exchange, will take place in Shenzhen, located in Southern China, later this year. The announcement was made by Falcon and Associates, a strategic advisory company that works for the Dubai leadership and initiated Dubai Week in China. Following the success of Dubai Week in China in Beijing (2015) and Shanghai (2016), […]
Cloudera CEO Tom Reilly ringing the bell at the NYSE Friday. Cloudera closed out its first day of trading on the New York Stock Exchange with its share price up 20 percent to $18.10. The Apache Hadoop-based software and services distributor started trading Friday morning at $17.80 a share under the ticker symbol CLDR. On Thursday evening, Cloudera priced its shares at $15, raising around $225 million […]
Emerging from an Hermès store in Shanghai with a shiny new watch costing “tens of thousands” of renminbi, Zhao Feifei is emblematic of a younger generation of Chinese consumers driving a rebound in sales of European luxury brands. “I’m earning more than before so I’m more willing to spend,” says Ms Zhao, who works in an internet finance company. The 30-year-old is one of the many customers […]
By Jeffrey Dastin | SAN FRANCISCO SAN FRANCISCO Amazon.com Inc’s ventures far beyond online retail, from cloud computing to movie making, are raising questions among corporate strategy experts about its focus. The Seattle-based company wowed Wall Street again this week with a 23 percent jump in sales, pushing its shares to an all-time high. But there are concerns that if blockbuster growth stops, investors may come to […]
After a dismal fourth quarter, it seems that Europe’s investment banks have got some of their swagger back. Switzerland’s UBS grew investment bank profits by more than 50 per cent in the first quarter, even though it is hard to imagine a recovery less well-suited to the Swiss bank which is short on the US exposure and the markets businesses that have driven the strong results of peers. Credit Suisse […]
Our round-up of the best comment and analysis from the Financial Times during the week focuses on US corporate earnings, eurozone interest rates and the future of US economic reforms. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. The FT’s John Authers says US corporate earnings have reached a turning point — the earnings recession that […]
Violence erupted in Macedonia’s parliament as tensions between ethnic Albanian minorities and nationalists boiled over, prompting sharp rebukes from Western governments. Protesters supportive of the nationalist VMRO-DPMNE party, as well as individuals clad in identity-concealing hoods, stormed parliament on Thursday night local time, violently accosting at least lawmakers and journalists. Police say the violence left 102 inside and outside parliament injured. Parliament had just managed to break […]
On the last day of the busiest earnings week in a decade, here is a striking statistic from Goldman Sachs, showing just how dominant a handful of large cap companies have become in terms of both overall profitability and market impact: Year to date the top 10 contributors have combined to account for 37% of the S&P 500 index return (more than double their market cap representation […]
Emerging market equities have been the darling asset class de jour in 2017, mainly in Asia and Latin America, despite the March FOMC rate hike, a US Dollar Index at or above 100 and a mini-swoon in crude oil after a Saudi-Russian output cut spat. Earnings growth (India/Thailand) a stabilized currency (China), policy reforms (India, Brazil, Indonesia) local interest rate cuts (Brazil) and lower US protectionist policies […]
FRANKFURT Deutsche Bank is expected to name James von Moltke as new finance chief, replacing Marcus Schenck who is taking on a role as co-head of the investment bank, a source close to the matter said on Friday. Deutsche Bank declined to comment. Von Moltke will join Germany’s flagship lender from Citi, where he worked as treasurer from 2015 after earlier looking after the bank’s financial planning […]
Barclays has reported a doubling of underlying quarterly profits, excluding a big hit for selling its African unit, as its chief executive sought to shift attention away from a row over his treatment of a whistleblower. Jes Staley, who is being investigated by British and American regulators for trying to discover the identity of a whistleblower, said: “We are now just two months away from completing the […]
April 28, 2017 by: Hudson Lockett in Hong Kong Friday 05.00 BST Overview Equities fell on Friday in Asia as the region’s markets took their cues from an underwhelming session on Wall Street, while currencies pared earlier rises amid mixed signals on the future of Nafta. Hot topic Asia-Pacific equities were choppy after Wall Street investors on Thursday digested the prospects of the Trump administration’s proposed tax […]
The National Broadband Network (NBN) company should increase the extent of its fibre network, providing as many customers as possible with fibre to the premises (FttP) and fibre to the distribution point/curb (FttDP/C), the South Australian government has said, adding that the satellite service should be a “last resort”. Speaking in a submission to the Joint Standing Committee on the National Broadband Network, the South Australian government […]
By Jennifer Ablan and Stephen Nellis | NEW YORK/SAN FRANCISCO NEW YORK/SAN FRANCISCO Growing tensions with North Korea should worry global electronics firms such as Apple Inc as they source key parts from South Korea, but investors are brushing off such concerns and snapping up shares in key exporters, heartened by robust earnings and big investment plans. U.S. President Donald Trump said on Thursday in an interview […]
